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Showing content with the highest reputation on 12/28/2018 in all areas

  1. 1 point
    Hi folks! I just got around to updating my profile and thought I would post an introduction here too. I discovered Bear Bull Traders about a year and a half ago when Andrew's book caught my eye. I previously had no background whatsoever in the world of trading or investment, other than occasionally looking at my 401k balance. "How to Day Trade for a Living" really piqued my curiosity and I enthusiastically joined BBT and began learning the art of trading with a SIM account. I went live in December of 2017. Since then, I have discovered a bit of talent for spotting trends, and a whole lot of psychological barriers to successful trading. But I've stuck with it and am managing to stay green and grow my account. I work a rotational schedule that has me away from home 2 weeks every month, so realistically, I can only trade about 10 days a month. That has been both a blessing and a curse, as I do get to pause and reflect every month, but I also feel a bit "rusty" when I dive in fresh after being away for two weeks. I live in Alaska, and along with fellow Alaskan BBT member Yung K, have recently decided to host a meetup on January 12, 2019. Hope some of you can make it!
  2. 1 point
    Hello everybody, My name is George and i'm from the Commonwealth of the Northern Mariana Islands. I'm 20 years old, and i'm willing to dedicate, struggle, and suffer for the next 10 years of my life to develop success in day trading to provide for myself, my mother and my father. Please to meet you all, and I can't wait to learn as much as I can from everyone.
  3. 1 point
    Hello, my fellow traders, My name is Heemel, I am originally from Bangladesh but currently living in Regina, SK, Canada. Like Andrew, I came to Canada as a student, finished my Master's and after that started working in a bank. I did my undergrad in Finance, so the stock market was always an interest for me. I first started trading in 2016, blew up my account, but the good thing was I got an opportunity to observe the financial market and its potential. After that, I was saving money to start another stint, and I was watching the market. However, it did not interest me much as I was not engaged with the market. As a result of I kind of lost track of it. I again came back to the market in April 2018, lost money, made money to the point that I almost recovered my first account, then again lost a lot, due to fear of taking small losses that ended up hitting me with very big losses. I realized that I cannot sustain in the market in this way, so I started reading trading books and watching youtube videos, and I was also actively looking for a mentor. Unfortunately most of the mentors, I found on the internet turned out to be low float momentum chasers. I just did not want to join an alert service. I needed a community because I wanted to learn and be a part of a brotherhood of like-minded people, where I can get a second opinion if I am making a mistake. Honestly, the majority of the trades that I took were good. I did some rookie mistake like playing earning, not cutting losses at all, and FOMO. Looking back, I think had I made this decision earlier (or had I found BBT earlier) I could have saved so much money that I lost. I am 32, and currently looking to make a career in trading. I believe this is a skill, that will continue to provide, and there is no retirement age for a trader. I wish to learn from each and every one of you and wish to be of help if you need anything. Currently, I am taking it slow, Still reading a lot of books, in fact, I did not finish Andrew's book yet. I will watch and learn for a few months. In the meantime, I will take my own trades with a tight stop loss and no FOMO. Thanks for your time. Heemel
  4. 1 point
    To start off, I did not see the word ''Journal'' in your initial post and I think this is where the problem is. Here is a list of things you can watch IF you have been journaling your trades : 1) Your stop loss : where are they situated ? in air ? on feeling ? on a technical indicator ? a price level? new 5 minutes high or low ? It needs to be somewhere for a reason 2) Your entry: Do you anticipate or enter when lvl breaks? On moving average ? Important lvl of Support and resistance ? 3) Your Sizing according to stop : Do you stop out BEFORE your actual real stop ? 4) Your trade management wich include the way you scale out. Wich can make or break your overall profit and Risk : reward 5) The stocks you decide to trade, Whats the float, did it gap up or down more than x% ? 6) What patterns are you trading ? Are you going with your mood, experiencing, or do you have ONE OR TWO pattern that you are trying to master 7) are you revenge trading ? Are you chasing ? are you averaging down ? 8 ) Whats your Win Rate % ? 9) What is your average winners $ ? 10) What is your average losers $ ? 11) Do you cut your losses ? If you Risk 1% per trade, aiming for 2:1 Risk:Reward, and your Daily Profit target is 1% , it doesn't make sens, your target should then be 2% daily AT LEAST Here is what I came up with : I calculate everything in ''R'' wich is What I risk per trade in $ (mine is 30$ for now with a 3.5K account) lets say 1% then RISK PER TRADE : 1R MAX DAILY LOSS: 2.5R ( Why not a round number ? Because sometime trade is just no going anywhere and I get out without it going to my stop) DAILY GOAL : 4R ( To me it is not to high because of my style of trading wich is more riding the trend for big bucks) A scalper/momentum could go for 2.5R or 3R WEEKLY GOAL : 10R PS: Daily Loss and Goal are calculated INCLUDING Commissions When I will be +10R for 2 weeks in a row, I will then up my ''R'' to 50$ instead of 30$ and so on my boy so stop thinking 1% a day is not high enough becasue it is only 50$, when this 1% be equal to 250$ instead of 50$. Thats some serious money. NOW My question to you is what is YOUR bread and butter pattern, where is YOUR edge in the market !? A) Do you prefer to ride the trend or take reversals ? B) Are you more of a ***Scalper ( in and out in seconds ) ***Momentum trader ( couple minutes ) ***Longer Term ? C) What pattern do you like the most, fits your personnality the most ? Stick to it, master it and inscrease ''R'' when you have concistency. Feel free to email me @ [email protected] and Congratulations on your english, it is pretty good Since I started to work harder, I started to be luckier! 🙂 See you in chat Monady
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